Business Context and Reporting Period
Company: Plexus Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: June 5, 2026
Event: Entry into a Second Amended and Restated Credit Agreement.
Key Financial Metrics and Debt Structure
This filing details the restructuring of the Company's credit facilities rather than reporting operational financial results (revenue, profit, or cash flow) for a specific period.
- Facility Type: Revolving credit facility.
- Maximum Commitment: $500 million.
- Accordion Feature: May be increased by $250 million to a total of $750 million at the Company's election.
- Maturity Date: June 5, 2031.
- Administrative Agent: JPMorgan Chase Bank, N.A.
- Interest Rate Basis: Alternate base rate, Term SOFR, EURIBOR, or Daily Simple SONIA plus an applicable margin.
- Unused Commitment Fee: 10 to 25 basis points.
Material Changes Versus Prior Period
The Second Amended and Restated Credit Agreement replaces in its entirety the Amended and Restated Credit Agreement dated June 9, 2022. Key changes include:
- Extension of Maturity: The new agreement extends the maturity to June 5, 2031.
- Capacity Increase: The maximum commitment is set at $500 million with an option to increase to $750 million.
- Covenant Adjustments: New financial covenants are established based on the ratio of consolidated total indebtedness (minus up to $150 million of unrestricted cash) to consolidated EBITDA.
Guidance, Outlook, Risks, and Covenants
The filing outlines specific financial covenants that the Company must maintain as of the last day of any period of four consecutive fiscal quarters:
- Interest Coverage Ratio: Consolidated EBITDA to cash consolidated interest expense must not be less than 3.00 to 1.00.
- Leverage Ratio: Consolidated total debt to consolidated EBITDA must not be greater than 3.50 to 1.00.
- Acquisition Exception: The Company has the right to temporarily increase the leverage ratio to 4.25 to 1.00 in connection with certain material acquisitions.
- Risk Factors: The agreement contains customary events of default. Failure to meet covenants could result in default.
Note: The filing text does not provide specific revenue guidance, profit outlook, or management commentary on operational performance.
Important Facts for Investor Verification
- Verify the Company's current leverage and interest coverage ratios to ensure compliance with the new 3.50x and 3.00x covenants.
- Confirm the Company's intent and ability to utilize the accordion feature to increase the facility to $750 million if needed.
- Review the full text of the Second Amended and Restated Credit Agreement (Exhibit 10.1) for detailed definitions of "consolidated total indebtedness" and "consolidated EBITDA."
- Monitor for any material acquisitions that might trigger the temporary leverage ratio increase to 4.25x.